If you’re a crypto enthusiast, you’ve heard of crypto wallets and their importance. Safely storing your crypto assets is one of the essential things when collecting NFTs or for any crypto exchange you do.

You can have several types of crypto wallets, each with particularities you should consider before getting started. Knowing the right wallet is the first step to becoming a successful investor, whether you want to buy crypto or digital assets.

If you don’t know the main types of wallets or how to set up one, this article is perfect for you. We will show you everything you need to safely create your software wallet to store digital money and NFTs. Make sure to follow all steps carefully to ensure the best results and avoid any problems in the future.

Having your own crypto wallet is a vital part of becoming a successful investor, not only because they’re the simplest way of storing your crypto money but also because they’re the safest. One of crypto’s main characteristics is that it dismisses the need for third-party involvement in transactions, so storing them in a bank account would be pointless. The wallet provider won’t interfere with your operations, so you can transfer crypto much more safely than you’d do transferring real money.

Many software wallets are available, and each offers its own resources and features regarding security and functionality. The best option between the multiple cryptocurrency wallets will depend on the crypto coin you’re using and what you’ll be using it for.

As we mentioned before, there are different wallets you can have, and each one has its particularities. Here are the most common types of crypto wallets you can have to store your coins and assets. Take a close look at their differences to understand which one will best suit your needs.

Hardware Wallet

Hardware wallets are one of the most used types by users who want maximum security when storing their coins. The main objective of hardware wallets is to store your private keys on a physical device so hackers can’t access them remotely.

Your private key is what allows you to access the wallet app or the desktop wallets, so keeping it correctly stored is indispensable. Some of the most famous hardware crypto wallet options available are Trezor and Ledger.

Paper Wallet

Like the hardware wallet, paper wallets are used to store the wallet address, private key, and other important information. The main difference is that, instead of using a dedicated device, like the hardware wallet, paper wallets are just printed documents containing these pieces of data.

As you might think, this is not a secure way of storing your information since anyone with access to it can enter your crypto wallet. Make sure to safely store your paper wallet in a place only you can access. 

Desktop Wallet

Desktop wallets are those accessible through dedicated apps for your PC. It is one of the most used wallets since you can access the software wallet app whenever you want as long as you’re on your computer. 

It is also a fairly secure way of storing your assets. Make sure to choose a safe wallet and keep your antivirus up to date to avoid problems and attacks.

Mobile Wallet

Mobile wallets work exactly like desktop ones, with the difference that here, you’ll access the wallet through your mobile device. The wallet apps available for desktops are also usually available for mobile devices. 

If you choose the mobile wallet, you’ll find hundreds of options to choose from. Make sure to check their features and the supported currencies. Also, if you want to keep them on both desktop and mobile, make sure they’re available on both platforms.

Web Wallets

Another common option, especially if you’re a beginner in the crypto world, is to use web wallets. As the name suggests, they’re accessible through the web browser and usually work as downloadable extensions.

Some of the biggest wallets in the crypto industry offer this kind of service, such as MetaMask and Phantom. They are usually easy to set up and the best option if you’re beginning with crypto or NFTs.

A common thing you’ll find when researching the best wallet for you are the terms “hot wallets” and “cold wallets.” But what are the differences between these two?

A hot wallet is a crypto wallet that has an internet connection. Thanks to this, they can offer a series of features and tools, such as transferring tokens, coins, and many other actions. Although they’re the most practical and versatile type of wallet, they’re also vulnerable to attacks thanks to the internet connection.

On the other hand, cold wallets don’t offer any internet connection. This makes them a safer option but with very limited features. Storing crypto offline is the best option if you carry high amounts of coins or want to ensure maximum security.

Another common concept you’ll find when looking for wallets is custody. Here’s a simple way to understand what wallet custody means:

A custodial wallet means you don’t have complete control over your wallet and its private keys. Custodial wallets (or Hosted Wallets) might look less secure than other options, but many people prefer them since they take less responsibility to manage than self-custody wallets, for example.

On the other hand, non-custodial wallets give the user total freedom and control over their wallet keys and their coins. It is recommended when you have large amounts of coins and assets stored in them. The security features are usually better since the non-custodial wallet doesn’t have third-party control.

If this is your first time creating a crypto wallet, it is highly recommended to use a custodial wallet. They’re easier to manage, and most beginner wallets feature this type of management.

We will show you everything you need to set up your crypto wallet correctly. Make sure to follow all the instructions carefully to ensure everything goes smoothly and without any problems when trying to add or subtract funds from it.

Here are the main steps necessary to correctly set up your crypto wallet:

Create an Account on the Desired Platform

The first step is to start creating your account on the chosen platform. If you haven’t chosen one yet, make sure to consider aspects such as the currencies supported and how easy it is to manage your account.

If this is your first time setting up a wallet, Metamask is the best crypto wallet you can get as a beginner. It is free, beginner-friendly, and features numerous security tools, such as two-factor authentication.

Make sure to safely store your password and private key. If you lose it, you also lose access to the content stored in the wallet.

Download the Wallet App or Add the Extension

After choosing which wallet to go with, it is time to download the app or extension for it. Most wallets that work as web browser extensions also have mobile apps that can be downloaded.

Crypto users usually choose mobile as their main platform for storing cryptocurrency and exchanging crypto funds since it is harder for hackers to access, and they can check the app anytime.

MetaMask features a browser extension and a mobile app for crypto exchanges and storing your non-fungible tokens. The wallet application for mobile devices allows you to do extra operations and manage multiple aspects of your account, like your login credentials.

Add Your Funds

Lastly, you’ll add funds to your wallet. Whether you want to add Bitcoins, Ethereum, or any other coin, first, you must ensure the chosen wallet supports it. You can visit their official website to check the full list of supported currencies.

Adding funds is a very simple task, and the process will depend on which platform you’re making your crypto wallet setting. Make sure to get familiar with the app or extension before doing more complex tasks. This will ensure you know how to do each operation and avoid the chances of mistakes during the processes.

Choosing which wallet option to go with can be a challenging task. Here are some suggestions if you still don’t know which one to go with:

MetaMask

Considered by most as the best option for beginners, thanks to its support for thousands of currencies and simplified interface, MetaMask is very easy to use and manage. You can manage your assets through your smartphone or PC and store your private keys on the most popular hardware wallets available.

It features a recovery phrase system, so make sure to store the code safely. It will support any digital currency you might have.

Trust Wallet

Another popular option for most beginners is Trust Wallet. It is one of the best platforms when it comes to security and has tons of features to protect you from attacks and scams. If you want to choose a wallet based on security, this is the option to go with.

It is a hosted wallet, so you don’t have total control over the operations, but you also don’t have to worry about numerous aspects, like managing your keys and proving the funds are yours, leaving these tasks to the platform. It also covers numerous cryptocurrency assets, including Ethereum and thousands of others, so that you can store your different types of crypto with no problem.

Coinbase

Coinbase is the second most used crypto wallet in the world and supports hundreds of different coins. What makes it such a good wallet are the numerous features that make your transactions safer and easier, such as eliminating the need for third-party actions.

Since it has more options than other wallets, the interface might be confusing for beginners. It is recommended for intermediate and advanced users.

Phantom Wallet

The Phantom Wallet became popular with the arrival of the Solana NFT marketplace for being the easiest option for bidding with that currency. But with time, it also became one of the best platforms for collectors and investors in general. 

Even though it doesn’t feature as many coins as Trust or MetaMask, it is still one of the best wallets for beginners. It has a friendly interface, and you can learn all its features quickly.

If you’re an NFT enthusiast, this is one of the best options.

You can do several procedures to add funds to your wallet, from transferring them from one wallet to another to many other options. Among all the alternatives, using a Crypto Voucher is still one of the most practical and safe. 

You don’t need to expose yourself or send any kind of ID. All operations run without KYC processes, ensuring your privacy and avoiding any problems.

It’s like buying a Steam gift card that instantly adds funds to your crypto wallet. The best part is that you can choose between multiple values, so there’s always an option that fits your budget.

RoyalCDKeys is the best place to get these vouchers. You’ll find numerous options, and since we offer a variety of products, your purchase won’t be flagged as cryptocurrency for third parties, ensuring your safety at every step of the process.

We also offer a variety of payment options to ensure you get the best experience when buying for us. We have everything you need, whether you want to pay with a credit card or any other method.

Get your voucher code and visit cryptovoucher.io to redeem it. Once you do that, the funds will automatically go to your wallet.

A good crypto wallet is the first step if you want to start investing in crypto coins or NFTs. From the safety features to the interface, everything needs to be considered before choosing the best option for you.

A safe wallet ensures you won’t be hacked and your coins are properly protected from scammers. There are different types of wallets and custody options. Make sure to closely examine all of them to understand what each one means before creating your account.

Now, it’s time for you to start setting up your account. Choose the option that best suits your needs and get a crypto voucher to start adding funds to it. This way, you’ll become a successful crypto investor in no time.